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Major Dimensions of Product Concept – Explained!

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Some of the major dimensions of product concept are as follows: (i) Managerial Dimension (ii) Consumer Dimension (iii) Societal Dimension.

The product is the most tangible and important single component of the marketing programme. The Product Policy and Strategy is the cornerstone of a marketing mix.To the marketer products are the building blocks of marketing plan. Good products are key to market success.

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Product decision are taken first by the marketers and these decisions are central to all other marketing decisions such as price, promotion, and distribution. Product is vehicle by which a company provides consumer satisfaction. Product is the engine that pulls the rest of the marketing programmes.

The Product concept has three dimensions:

(i) Managerial Dimension

(ii) Consumer Dimension

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(iii) Societal Dimension

(i) Managerial Dimension:

It covers the core specifications or physical attributes, related services, brand, package, product life cycle and product planning and development. Product Planning and development can assure normal rate of return on investment and continuous growth of the enterprise.

(ii) Consumer Dimension:

People buy things not only for what they can do, but also for what they mean.

Product represents both utility and non-utility aspects, i.e., tangible and intangible things. A product conveys a message indicating a bundle of expectations to a buyer. Consumer’s perception of a product is critical to its success or failure.

If the consumer’s post purchase experience is favorable, marketer can expect repeat orders. Consumer accepts products as bundle of satisfactions rather than as physical things.

(iii) Societal Dimensions:

Marketers have to fulfill the following social responsibilities while offering the products to consumer.

(a) Conservation and best use of natural resources.

(b) Safety to users.

(c) Long-run satisfaction of consumers.

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(d) Quality of life, concern for better environment.

(e) Fulfillment of government regulations relating to composition, packaging labeling, promotion and pricing of many products.

(f) Eco-marked products would be environment friendly.

To the society, salutary products and desirable products are always welcome as they fulfill the expectations of social welfare and social interests. Salutary products yield long run advantages but may not have immediate appeal. Desirable products offer both benefits, immediate satisfaction and long-run consumer welfare.